PivotMagic EA: Magical power of pivots present NOMINAL LOSS (close to zero) over time - page 4
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Those who wish to experiment with the latest version (2.2) of PivotMagic EA can find it attached here.
It has some enhancements, yet the major issue of the drawdown is still to be dealt with. I guess that would take some more effort and time.
I've given the source code to a member and we're helping each other to improve it further.
Remember that those are merely for experimental purposes and I am not to be held responsible if anyone wants to go live with it. (I've been asked about this times already).
cheers
How to use an ex.4 file as an expert?
It was compiled using MetaTrader ver 4 so it may not work in earlier versions.
Also note that if you want to do forward testing using a demo account, you may go for the least conservative settings, i.e., you can reduce the waiting time (confirm_trend_time) to minimum (1) and increase aggression_level to maximum (12) and may also reduce the takeprofit to the minimum possible for that particular currency and broker's spread (e.g., 50 for EURUSD for 1 Lot trades using interbankfx).
I've done a test for the last two days on the EURUSD pair and it gave me net profit of 440 pips. Don't forget that the drawdown at the end is normal given that it is a continual program. But soon I'll be able to implement a feature that triggers a messagebox if you want to continue to the next trade or not.
Any EA will only be successful if traders are alert and know how the program is going.
Good luck.
Hi Investor_Me I toke tha data on Alpari site. (http://www.alpari-idc.com/en/dc/databank.php)
There is a full database of all pairs on M1 TF both MT and XPO format.
Bye.
Bolla
P.s.: I wait your new release!
Hi Investor_Me I toke tha data on Alpari site. (http://www.alpari-idc.com/en/dc/databank.php)
There is a full database of all pairs on M1 TF both MT and XPO format.
Bye.
Bolla
P.s.: I wait your new release!Thanks Bolla,
I'll definitely go and check it out. While working on the new release, I'll do some forward testing with the least conservative (and most aggressive) settings.
I've done a test for the last two days on the EURUSD pair and it gave me net profit of 440 pips. Don't forget that the drawdown at the end is normal given that it is a continual program.
Hi,
Please note that the modelling quality is 24.99%. You can't trust a report with such low modelling quality. I have doubts on backtesting (of any EA, not only this one) even if the modelling quality is 90%. I have created some EAs (with great great backtesting) myself and they had totally different results on forward testing. Can you post some forward test results?
I have another observation: those "440 pips" are in fact 440 $ = 44 pips. You are trading 1 lot at 100:1 leverage. This means 10$=1pip for every lot.
My conclusion: Unless we do some serious forward testing, this EA is not to be used on real accounts. It won 44 pips in two days BUT with a modelling quality of 24.99%. Usually, the lower the modelling quality the bigger the profits.
I don't want to disappoint you. I just want to open your eyes, to not put your money on the line.
Hi,
Please note that the modelling quality is 24.99%. You can't trust a report with such low modelling quality. I have doubts on backtesting (of any EA, not only this one) even if the modelling quality is 90%. I have created some EAs (with great great backtesting) myself and they had totally different results on forward testing. Can you post some forward test results?
I have another observation: those "440 pips" are in fact 440 $ = 44 pips. You are trading 1 lot at 100:1 leverage. This means 10$=1pip for every lot.
My conclusion: Unless we do some serious forward testing, this EA is not to be used on real accounts. It won 44 pips in two days BUT with a modelling quality of 24.99%. Usually, the lower the modelling quality the bigger the profits.
I don't want to disappoint you. I just want to open your eyes, to not put your money on the line.You're right about that. Sorry for the pip number confusion. I should have said I just won 440 of the currency, which is 44 pips in this case.
I'm trying some forward testing today. Let's see how it goes
I still haven't figured out what the deal is...
To the other posters in this thread, why are you spending time working on a EA that has an unkown future? The original poster most likely either keep it to himself, or sell it. If he was going to release the code, he would have done it by now. Much more progress could be acheived with the realease of the code if he was truely interested in bettering the community.
I don't know about you guys but if the construction company down the street knocked on my door and asked if I'd go over and help dig a hole, because it was going to make them lots of money, saying "sure thing!" would be about the last thing to come out of my mouth.
OK guys, let us move this issue further. Now more enhancements and the awaited stoploss feature is now there. But I warn you that if you want to be extra safe by raising the level, your profits could drop and so will the number of trades. As they say, it is a risk/reward delicate balance.
I also recommend trying it with the major currencies. But I noticed that the pairs iwth the JPY are sometimes unpredictable and erratic (Japanese markets are crazy!). Try more often with the EURUSD and USDCHF.
Check it out and I recommend you start with the default parameter settings and play with them as you go along. The most crucial parameters are the agression level, the stoploss and also the takeprofit makes a big difference. They are act differently with different pairs and one needs to analyze each pair's own optimum settings. I'll be happy if you share your experiences with that.
Yet this version is like the rest, still an experiment. It's still far from perfect, but it has many enhancements such as:
- measuring market volatility and not trading when it is volatile.
- checking pivot points more frequently and adjusting to them
- ignoring trading on days when there were very few trades.
- trying to locate the ideal spot for minimum loss (for dynamic loss)
And more enhancements will be introduced in future versions. This one is usable until June 31 and I'll remove the limit to whoever is interested and active in testing. He/she can PM me with a request.
I welcome suggestions and questions.
Dear Investor_me,
What a blah-blah-blah monologue !
Don't you understand that here nobody is interested to play with your toy ?
It's easy to see : all of your recommends and your subtle seetings are of no interest at all if there are no possibilities to really understand how they will take care of our money !
We are traders, real traders. Do you know what this means ? Do you think we will put our money in a blackbox with 4 buttons and a recommend to use this one or that one ?
Nobody here will use an EA wich cannot be perfectly understood, ie, without source. It's far better to use a simple MAcross and to have the ability to adapt it at the market !
40 pips / 2 days on EURUSD aren't any more magical at all, so, go real with your toy and your money. Trust me, that's the way for you to make big money.
First become a trader, then you will understand why it's difficult to sell a fish at a fisherman...
Friendly,
Michel
Good results for v2.2 in forward testing
A friend (and StrategyFXBuilder Member) has been able to do forward testing for yesterday and had 5 winning trades in just one day but with different pairs.
I take the liberty to post his results here:
They were all based on default settings.
But it was noticed that no simultanuous orders were made in different currencies, which means that the program is probably checking all pending orders regardless of the currency. I'll be looking into that and will try to resolve it in future editions.
Worth noting that many of those who PMed me and did forward testing were given the EA without any limits. Some have even obtained the EA source. Thanks for all those who supported this promising project.
I welcome suggestions and ideas...